The Interchange Rate for any particular transaction depends on a variety of factors including method of acceptance, the type of business accepting cards (MCC), type of card, whether it is face-to-face, or … We're on a mission to deliver a better payment experience. The base rates are the same for all processors (and non-negotiable) and processors add a markup to those base rates. Amex makes up a vital part of trade value in some specific businesses, including restaurants, entertainments, and travel. The first is by using the OptBlue program and the other is by a direct agreement. The new Visa and Mastercard implementation dates are now July 18, 2020 and August 1, 2020, respectively. Browse the latest articles on our products and the payments industry. View recent media mentions or download our logos and media kit. We reserve Interchange rates are set and regulated by Visa Canada, Mastercard Canada, Discover Canada and UnionPay International, whereas Wholesale Discount Rates are set by American Express in Canada. Compare exchange rates from other money transfer services. Mobile payment solutions that can travel with you to customers homes. American Express OptBlue Retail Rate Grid. By accepting Amex, your customers can … Accepting Amex is quite difficult for merchants due to its expensive rate. Keep track of your customers and build better relationships. We display Amex's OptBlue wholesale discount rates on our website as part of our transparent Interchange Plus pricing. Additionally, there are some differences in the planning scheme than the other networks as these types of cards have no bearing on the rate of processing. The tables below have a breakdown of the current Visa and Mastercard interchange rates in Canada. FREEZER LOCKER MEAT PROVISIONERS 5422 . The reduction in interchange fees is expected to save small and medium-sized businesses in Canada $250 million per year, based on credit card sales of roughly $250 billion per year. View your transactions and manage your business from any device, anywhere. You get full access to all of our tools, as well as our great low processing rates. But American Express is a closed network. HARDWARE STORES 5251 . 1.4 publishing schedule The American Express Merchant Reference Guide will change periodically. American Express Opt-Blue Wholesale Discount Rates. American Express Opt-Blue Wholesale Discount Rates. Focus on your work while we take care of your Visa / MasterCard processing! ta b l e o f c o n te n ts This document shall not be reproduced in any form without the express prior April 2019 3 written consent of American Express Travel Related Services Company, Inc. The tables below have a breakdown of the current Visa and Mastercard interchange rates in Canada. There are some supplementary charges that you also will have to consider. LAWN AND GARDEN SUPPLY STORES 5261 . Do you want to know what is the usual rate of Amex? Industry Amount Rate; Amex Retail: $75: The American Express logos are trademarks of American Express Company and Amex Canada Inc Other trade names may be trademarks of their respective owners. Amex is a popular card used by customers around the world. a web-based version of a credit card terminal. Visa Canada Official Interchange Rates * Visa Canada "Everyday" Independent Businesses SIC. We are committed to helping our merchants stay secure and compliant. Cross-border Charge (0.14%): Taken for the international transactions. Ascentrio Inc is a First Data Canada Ltd (fiserv) Partner and Registered MSP/ISO of Wells Fargo Bank, Canadian Branch, Toronto, ON, Canada. American Express (Amex) interchange rates are entirely unique among major card brands. American Express USA Interchange Rates. Now, before we wrap up this guide, we hope we have provided a brief idea about the interchange reimbursement charges of the American Express cards in Canada. Accept payments at the counter or offer online ordering to customers. This means anywhere AMEX is accepted, so is JCB, giving you the ability to serve more customers globally. These interchange rates in Canada are set by Visa and Mastercard and are mandatory for all credit card processors. It doesn’t happen with the Amex cards. Send invoices for easy payment collection or use the virtual terminal. No balance transfer offers. Some of the largest merchant account holders are only able to receive with MasterCard and Visa. These card companies include Visa, Mastercard, AMEX, Discover. While some small businesses refuse to accept Amex because of higher costs, accepting this card allows you to capture the customers who prefer Amex. Changes in Canadian Interchange Fees. 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